StockNews.com Initiates Coverage on Barnes Group (NYSE:B)

Analysts at StockNews.com started coverage on shares of Barnes Group (NYSE:B) in a note issued to investors on Thursday. The firm set a “sell” rating on the industrial products company’s stock.

Barnes Group Stock Performance

NYSE B opened at $47.48 on Thursday. Barnes Group has a 12 month low of $32.65 and a 12 month high of $47.50. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average of $47.48 and a 200-day moving average of $46.44. The company has a market cap of $2.42 billion, a PE ratio of -61.66 and a beta of 1.32.

Institutional Investors Weigh In On Barnes Group

Several hedge funds have recently added to or reduced their stakes in B. BNP Paribas Financial Markets boosted its stake in Barnes Group by 3.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,608 shares of the industrial products company’s stock valued at $469,000 after purchasing an additional 348 shares during the period. Glenmede Trust Co. NA grew its position in shares of Barnes Group by 25.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 7,430 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 1,515 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Barnes Group by 5.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,815 shares of the industrial products company’s stock worth $3,629,000 after purchasing an additional 4,541 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Barnes Group in the third quarter valued at approximately $224,000. Finally, Paloma Partners Management Co bought a new stake in shares of Barnes Group in the third quarter valued at approximately $259,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

About Barnes Group

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.